4 ms·

Not much; the really wealthy would find workarounds.

by jfk13 7y ago

almost_usual 7y ago
Really? Doing DNA tests and verifying you are a direct descendant in order to receive income seems pretty rigorous. That would be the only vector of transmission. You could default all other assets to govt and impassable. Liquid only.
- nostromo 7y ago
  Tax havens are a thing, and this doesn't seem like a fixable problem without some sort of draconian world government.
  - IfOnlyYouKnew 7y ago
    Tax havens were a thing. But between all the leaked customer data, the subsequent prosecutions, and plenty of bilateral pressure from the US (2008-20016) and other large and wealthy countries, most tax haven jurisdictions have given in/up. It's not entirely perfect, of course. But there is plenty of evidence that with people in charge actually caring for the issue it is solvable.
IfOnlyYouKnew 7y ago
This sort of defeatism is, unfortunately, as widespread as it is harmful and wrong. Rich people do not have any magical powers. And while they have better resources to find workarounds or get a discount when caught, the law generally applies to them just as it does to anybody else. With just a bit of political will, it would be rather easy to effectively levy such a tax. During the Obama administration, for example, offshore banking saw some drastic changes making it pretty much useless in many cases. Even Switzerland co-operates when you ask unfriendly enough.
- aries1980 7y ago
  > the law generally applies to them just as it does to anybody else Indeed, but the punishment of the law is not proportionate. E.g. stealing billions and stash it, you might end up in a 27-month jail time (http://www.nbcnews.com/id/19293341/ns/business-corporate_scandals/t/former-enron-exec-gets--month-sentence/ http://www.nbcnews.com/id/19293341/ns/business-corporate_sca...) which is a very good hourly rate. Must feel like a meditative vacation after the party-hard years.

4 ms·

Not much; the really wealthy would find workarounds.

by jfk13 7y ago

Not much; the really wealthy would find workarounds.

almost_usual 7y ago
Really? Doing DNA tests and verifying you are a direct descendant in order to receive income seems pretty rigorous. That would be the only vector of transmission. You could default all other assets to govt and impassable. Liquid only.
- nostromo 7y ago
  Tax havens are a thing, and this doesn't seem like a fixable problem without some sort of draconian world government.
  - IfOnlyYouKnew 7y ago
    Tax havens were a thing. But between all the leaked customer data, the subsequent prosecutions, and plenty of bilateral pressure from the US (2008-20016) and other large and wealthy countries, most tax haven jurisdictions have given in/up. It's not entirely perfect, of course. But there is plenty of evidence that with people in charge actually caring for the issue it is solvable.
IfOnlyYouKnew 7y ago
This sort of defeatism is, unfortunately, as widespread as it is harmful and wrong. Rich people do not have any magical powers. And while they have better resources to find workarounds or get a discount when caught, the law generally applies to them just as it does to anybody else. With just a bit of political will, it would be rather easy to effectively levy such a tax. During the Obama administration, for example, offshore banking saw some drastic changes making it pretty much useless in many cases. Even Switzerland co-operates when you ask unfriendly enough.
- aries1980 7y ago
  > the law generally applies to them just as it does to anybody else Indeed, but the punishment of the law is not proportionate. E.g. stealing billions and stash it, you might end up in a 27-month jail time (http://www.nbcnews.com/id/19293341/ns/business-corporate_scandals/t/former-enron-exec-gets--month-sentence/ http://www.nbcnews.com/id/19293341/ns/business-corporate_sca...) which is a very good hourly rate. Must feel like a meditative vacation after the party-hard years.